By FXEmpire.com
The silver markets got a little bit of a boost during the session on Wednesday as the risk appetite around the world improved slightly. However, we are well within the recent consolidation range, and this suggests to us that although things look a little better over the last 24 hours we are still pretty tight in our range.
The $30 level above should be resistive, and as such we aren’t as ready to buy this market as we would perhaps the gold market. Remember, silver has an industrial component to it as well and this will continue to work against it as global demand is certainly lower. We still see the $25 to $26 area as massive support, and as such we need to see a daily close below the $25 level to even begin to think about shorting this market.
Click here for updated Silver News.
Originally posted here
